Regardless of what kind of sales process you're involved in transacting, remember the act itself remains the same.
However, there seems to be a misunderstanding about the way we can go about simplifying that sales cycle and shortening it to make things easier on ourselves, our staff, and the clients we serve. Whether it becomes over-complicated or just drawn out for some unnecessary reason, there should be some degree of simplifying it to help reduce any extra work, time or effort invested into something that shouldn't be needed as much.
Considering we can direct this blog in any specific direction, depending on the type of sale involved. We're going to keep things fair and provide a foundation for both a product-based type of sale and a service-based one. That way, you cannot only see the similarities between the two and how its all really more similar than not. But, you'll also see how they can add a unique twist to both strategies in completing a transaction to completion.
In this blog, we'll list out a series of ways you can begin simplifying your current sales cycle without adding much more tasks to your plate. The key here is to keep your strategy the same for the most part but to add a few subtle changes here and there that'll help make it easier to implement and more seamless to integrate into your interactions.
Let's get right into it.
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A) Qualify:
Starting with a product-based type of sale, first, let's chat about the standard way most entrepreneurs would go about their strategy. Assuming you're working with a prospect, you'd define yourself as a good candidate for your product. As we both know, this interaction can go one of two ways. It can be conducted either over the phone or in person.
When it comes to your list of qualifications, you want to come up with a formula that helps you vet out a highly qualified prospect from one that is not. That'll help you save a load of time, energy, and effort. This data can be obtained before and after the live interaction, you have with your prospect. Keep in mind that whatever data is obtained beforehand can help expedite the process even further.
One thing to keep in mind here is the stronger your qualifying, the stronger your chances of landing the deal and perhaps accruing referrals from there. This is where you'll want to be very comfortable speaking with pretty much anyone and everyone about your product and you want to be very much yourself here. The more genuine and authentic you can be, the higher the chances of you attracting business that truly resonates with your product and the industry you want to cater your product to.
You'll also want to make sure you're using your best listening and intuitive skills here. If there happens to be an awkward silence at any point in the conversation, find comfort in it and allow your prospect the time and comfort to process their own thoughts and share them with you.
You want to be very engaged in the conversation you're having with the prospect but not to the point where you're not picking up on any clues their giving you. If you notice any hesitation in their voice or anything that could potentially hinder the process of this deal, don't hesitate to address it. That way, everyone is on the same page and communication is up to par.
B) Demo:
Let's say the qualification portion of your sales process is on point and you have a strategy in place to help reduce the amount of time and energy you invest into it. From there, let's think of ways to help simplify the amount of time you spend going over the ins and outs of your product. The product you're selling can be something you can speak to your prospect about either over the phone or in person. Regardless of how you communicate with them, the key here is to understand how you'd wanna deliver your product in such a way that it almost explains is almost effortlessly.
Traditionally speaking, most people would spend a lot of time here talking about all the great features pertaining to their product and how its better than similar products out there. That is definitely something you wanna keep in the back of your mind, however you wanna approach this step a tad bit differently, just for the sack of keeping it relevant, useful and worth your prospect's time. What I mean by this, is that you wanna almost only bring up the product features that would help them solve a problem they are currently facing. A problem that they need a great deal of assistance with and something that is important to them. Once you have a clear understanding of what that problem is and why its important to them, everything you say from here on out should only be related to that single problem. And I mean, literally everything.
You may be wondering if your other product features should be brought up to add more value to the interaction. This can be tricky for some, so I totally get that. However, what you want to keep in mind is this. Your main focus should be to cater your product to your prospect and meet their needs. Their needs should come before yours, and I know that can be difficult to do at times. But I promise you that everything will go smoothly for you once you can master this very key ingredient. There will be no need to have lengthy conversations or even multiple ones for that matter. But rather ones that are meaningful, short and sweet and meet your prospect's (and soon-to-be client's) needs.
C) Close:
You'll notice that once you've seamlessly mastered the above, the rest of your conversation will be smooth sailing from there. The key here is to maintain a positive and act as if mindset, where you operate with completion in mind and it's very clear in your tonality, demeanor and interaction with the prospect. One thing that'll help you make this even easier would be getting their buy-in multiple times throughout your conversation with the prospect. Ask them about their thoughts. Ask them how they see it helping solve their problem. What that would mean to them and how that'd make things even easier on their day-to-day dealings.
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Shifting gears just a bit and focusing more so on a service-based interaction and how that'd play out, let's cover these same three stages to help explain the similarities and unique differences between the two.
A) Qualify:
This step goes without saying, its an absolute must. Once you've gotten past the standard vetting process in terms of making sure it'll be worth your time and theirs to do business with one another, make sure you explain to them in detail how your service works concerning the timing and schedule can accommodate for it. This is also where you'll have to explain how you and/or your team will complete the job they'd be hiring you for and if other accommodations need to be met in order for that service(s) to be completed and done the right way).
B) Demo:
Giving an in-person or even an online demonstration with a visual side to your explanation will go further than just a phone call that can be done with a product-based sales call. The goal here is to simplify the experience for them so they have an apparent understanding of how, when and where the service(s) would be done, started and completed. A service-based sales process can sometimes be harder to shorten, but if you go into it very organized with the needs of the prospect top of mind, it can be very easy to solve their problem.
C) Close:
Like you would a product-based sales conversation, you want to approach this final step with the right mindset and appropriate expectations for your soon-to-be client. Keep it simple, easy, to the point and provide a detailed plan of how you would go about next steps with them so everything can go as smoothly as possible. Make it more about them than the agenda, and make sure they know its subject to change on their terms, at any point. Your main goal is to help them solve the problem they've been facing. But having that serve as the focal point of your interaction, much good can easily come from this.
Simply put, the best way to shorten any sales cycle (despite it being a product or service-based sale), is to focus primarily on your prospect's needs. You can do this very well by staying on top of your organization, making it all about them and how you present your solution to their problem and how you plan on alleviating their problem from arising again.
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Until next time my friends, keep your head up and know that whatever "obstacle" comes your way throughout your business journey, its really just a blessing in disguise.
XO
-Bauer
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